Stay updated with breaking news from Arms Production Program. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
/cloudfront-us-east-1.images.arcpublishing.com/tgam/PRYBDM7ZTFKGBLZARO3F3QD7RA.jpg)
Military aid to Ukraine and concerns about a heightened threat from Russia ‘strongly influenced many other states’ spending decisions’
Global military spending grew for the eighth consecutive year in 2022 to an all-time high of US$2.24 trillion, with a sharp rise in Europe, chiefly due to Russian and Ukrainian expenditure, a Swedish think tank said Monday.
Sharpest increase in European military spending in 3 decades: SIPRI-
Global military spending reached a new high in 2022, with Europe seeing its sharpest increase in 30 years. India emerged as the 4th largest military spender, but still lags behind the US and China. Read on for analysis on rising military expenditure, its implications for the security environment, and trends in military spending by region and country.
Military spending surged across the globe last year to more than $224 trillion, with the war in Ukraine triggering the sharpest increase in defense budgets throughout Europe since the waning days of the Cold War.